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Tabcorp issued its Q1-2013 trading update

Wednesday October 17, 2012 : TABCORP REVENUES RISE
 
Trading update shows strong performance from online operations
 
The Australian gambling group Tabcorp issued its Q1-2013 trading update Wednesday showing year-on-year overall revenue growth of 2.9 percent to A$488.9 million.
 
“Tabcorp has started FY2013 well and the company’s strategies continue to deliver improved revenue," said the company’s Chief Executive Officer, David Attenborough.
 
"Our investments in expansion initiatives, such as Tabcorp Gaming Solutions and the new Victorian Keno business are contributing to company growth.”
 
Tabcorp’s reported Wagering result was impacted by the new Victorian Wagering and Betting Licence terms, which commenced on 16 August 2012. The company's share of the new Victorian Joint Venture has changed from 75 percent to 50 percent.
 
Total Wagering revenue, including the Victorian Racing Industry's interest, grew by A$20.0 million, or 4.5 percent on the prior corresponding period.
 
After accounting for the VRI’s interest, Tabcorp’s reported Wagering revenue was A$384.6 million, down 2.4 percent.
 
A more positive picture emerged on Keno, where revenue grew 17.7 percent to A$53.9 million, bolstered by the game’s launch in Victoria and continued growth in NSW and Queensland.
 
Tabcorp’s Media & International business also grew revenue by 6.2 percent to A$49.5 million.
 
The company’s new gaming services provider, Tabcorp Gaming Solutions (TGS) went live on 16 August 2012 as part of Tabcorp’s response to Victoria’s new gambling industry structure. TGS delivered A$13.1 million in revenue in 1Q13.
 
The discontinued (licence expired) Victorian Tabaret business contributed A$130.2 million in 1Q13 revenue.
 
Fixed odds revenue continued to grow strongly for Tabcorp’s Wagering business, up 30.3 percent on the prior corresponding period to A$94.7 million. The increase in fixed odds revenue more than exceeded the decline in totalisator revenue, reflecting a shift in customer preferences toward FOBTs..
 
Trackside, which is now widely distributed in 2,700 venues across NSW and Victoria,
had revenue growth of 8.7 percent.
 
Luxbet, the group's online and telephone betting service, continued to make strong progress driving both turnover and revenue as it competed for share in the Northern Territory corporate bookmaking market. Luxbet revenue grew 52.8 percent to A$8.1 million in 1Q13.
 
Digital turnover, excluding Luxbet, grew a creditable 12.9 percent, supported by the widespread adoption of mobile devices and changing customer preferences.

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Gambling News :

Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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